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Bank Of America And Brand Value

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By Jonathan Finger:

The concept of "brand value" is something that most companies serving consumers understand. Major brands like Coca-Cola, Procter & Gamble, American Express, and even General Motors understand the importance of developing a reputation for product quality, value and fairness when dealing with their customers. These companies actively manage their products and corporate image to develop the value of their brand in the marketplace, cultivating customer loyalty and in turn creating long-term franchise value for shareholders. This lies at the essence of what Warren Buffett refers to when he invests in high quality, brand name companies. (Although Buffett invested in Bank of America (NYSE:BAC) in 2011, I believe he did so because he got such great terms. Note that he has not added to his BAC position since inception, but he has repeatedly increased his Wells Fargo (NYSE:WFC) position, as recently as Q1 2013.)

[Disclosure: We are long BAC and we


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